The Herald reports today that Boston’s biggest commercial property owner won’t be contributing to Boston’s first business improvement district (BID) to help the Downtown Crossing area.
Chicago-based Equity Office Properties has five properties in the proposed BID that includes Downtown Crossing and adjacent areas.
In all, 16 percent of BID property owners have notified the city that they won’t pay the annual BID fees, which are in addition to annual property taxes. That leaves 84 percent of property owners – representing 73 percent of BID properties in the 50-block area – on board to contribute $3.1 million in the BID’s first year. Participation by all property owners would’ve raised $4.3 million.